BTC Capital Management Inc. Sells 3,381 Shares of The Walt Disney Company (NYSE:DIS)

BTC Capital Management Inc. lowered its holdings in shares of The Walt Disney Company (NYSE:DIS) by 37.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 5,663 shares of the entertainment giant’s stock after selling 3,381 shares during the period. BTC Capital Management Inc.’s holdings in Walt Disney were worth $631,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of DIS. Coastwise Capital Group LLC lifted its stake in shares of Walt Disney by 5.1% in the fourth quarter. Coastwise Capital Group LLC now owns 7,204 shares of the entertainment giant’s stock worth $802,000 after acquiring an additional 352 shares during the period. Evernest Financial Advisors LLC raised its holdings in Walt Disney by 11.7% during the 4th quarter. Evernest Financial Advisors LLC now owns 4,582 shares of the entertainment giant’s stock worth $510,000 after purchasing an additional 481 shares during the last quarter. Hunter Associates Investment Management LLC lifted its position in shares of Walt Disney by 2.6% in the 4th quarter. Hunter Associates Investment Management LLC now owns 6,768 shares of the entertainment giant’s stock worth $753,000 after purchasing an additional 173 shares during the period. Sonora Investment Management Group LLC boosted its stake in shares of Walt Disney by 2.2% in the 4th quarter. Sonora Investment Management Group LLC now owns 85,691 shares of the entertainment giant’s stock valued at $9,542,000 after purchasing an additional 1,852 shares during the last quarter. Finally, Oak Harvest Investment Services acquired a new stake in shares of Walt Disney during the fourth quarter worth $6,866,000. Institutional investors and hedge funds own 65.71% of the company’s stock.

Wall Street Analysts Forecast Growth

DIS has been the topic of a number of research analyst reports. Jefferies Financial Group assumed coverage on shares of Walt Disney in a research report on Wednesday, December 4th. They set a “hold” rating and a $120.00 price target on the stock. TD Cowen upped their target price on Walt Disney from $108.00 to $123.00 and gave the company a “hold” rating in a research report on Friday, November 15th. Needham & Company LLC lifted their target price on Walt Disney from $110.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, November 15th. Macquarie restated a “neutral” rating and set a $110.00 price target on shares of Walt Disney in a report on Monday, January 6th. Finally, Piper Sandler initiated coverage on shares of Walt Disney in a research note on Wednesday, October 16th. They issued a “neutral” rating and a $95.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $125.52.

Insider Activity

In other Walt Disney news, CEO Robert A. Iger sold 372,412 shares of the firm’s stock in a transaction on Friday, November 22nd. The stock was sold at an average price of $114.57, for a total value of $42,667,242.84. Following the completion of the sale, the chief executive officer now directly owns 226,767 shares of the company’s stock, valued at $25,980,695.19. This trade represents a 62.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Brent Woodford sold 5,000 shares of the company’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $113.62, for a total value of $568,100.00. Following the transaction, the executive vice president now directly owns 44,055 shares in the company, valued at $5,005,529.10. This represents a 10.19 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 385,412 shares of company stock valued at $44,153,263 in the last ninety days. 0.16% of the stock is currently owned by insiders.

Walt Disney Price Performance

DIS opened at $113.04 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.73 and a quick ratio of 0.67. The firm’s fifty day moving average price is $112.39 and its two-hundred day moving average price is $100.53. The Walt Disney Company has a 1 year low of $83.91 and a 1 year high of $123.74. The company has a market capitalization of $204.43 billion, a price-to-earnings ratio of 41.71, a P/E/G ratio of 2.02 and a beta of 1.43.

Walt Disney (NYSE:DIS) last posted its earnings results on Thursday, November 14th. The entertainment giant reported $1.14 EPS for the quarter, topping the consensus estimate of $1.09 by $0.05. The firm had revenue of $22.57 billion for the quarter, compared to analysts’ expectations of $22.49 billion. Walt Disney had a net margin of 5.44% and a return on equity of 9.21%. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 EPS. As a group, analysts anticipate that The Walt Disney Company will post 5.41 earnings per share for the current fiscal year.

Walt Disney Increases Dividend

The firm also recently disclosed a semi-annual dividend, which was paid on Thursday, January 16th. Shareholders of record on Monday, December 16th were paid a $0.50 dividend. This represents a yield of 0.6%. The ex-dividend date was Monday, December 16th. This is an increase from Walt Disney’s previous semi-annual dividend of $0.45. Walt Disney’s dividend payout ratio is 36.90%.

Walt Disney Profile

The Walt Disney Company operates as an entertainment company worldwide. It operates through three segments: Entertainment, Sports, and Experiences. The company produces and distributes film and television video streaming content under the ABC Television Network, Disney, Freeform, FX, Fox, National Geographic, and Star brand television channels, as well as ABC television stations and A+E television networks; and produces original content under the ABC Signature, Disney Branded Television, FX Productions, Lucasfilm, Marvel, National Geographic Studios, Pixar, Searchlight Pictures, Twentieth Century Studios, 20th Television, and Walt Disney Pictures banners.